Europe Bio Plastic Market is estimated to grow at a CAGR of 25.55% during the forecast period 2020-2027
Bio plastics are a fast-growing, innovative sector. Bio plastic packaging is gaining popularity in a Europe market driven by sustainability demands. Substitute for traditional plastic, stringent government regulation on petroleum-based plastic and increased consumer awareness for bio-plastics drives the Europe bio plastic market. While, government policies and public initiatives and advancement in production process to reduce cost offers an opportunity for the market. However, growth of the bio plastics market in the Europe is being hampered by lack of political support, level playing field and low cost of petroleum-based plastic.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Bio-PET and polyurethane constitutes almost two thirds of production. PHA production capacity was held considerable share but is projected to almost triple by 2026. Second most dynamic development is foreseen for polyamides (PA), whose production capacity is expected to almost double by 2022. Bio-based drop-in PET and new bio-based polymer PLA are showing approximately 10% annual growth rates.
Packaging is the major application segment of Europe bio plastic market. High demand for packaging made from bio plastics to be used for wrapping organic food, as well as for premium and branded products with particular requirements. Therefore, with growing packaging industry in Europe, market for bio plastic will also increase, as it is replacing petroleum based plastic in packaging industry. This industrial consumption of bio plastic is predicted to continue to grow as new capacities are planned to come online in Europe in the coming years.
Germany held major share of Europe Bio plastic market. Bio plastics consumption market has increased at the fastest rate in the country. Regulations by the Government have driven the bio plastic market. Germany is one of the foremost countries to provide certification of biodegradable plastics by DIN CERTCO. Packaging industry in Germany is among the highest of bio plastics in Europe, and market. Demand for bio plastics has increased in the automotive sector with most of the companies following the REACH regulations to have lightweight vehicles and lower emission rates.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Europe Bio Plastic market dynamics, structure by identifying and analyzing the market segments and project the market size. Further, the report also focuses on a competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER's analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in Europe Bio Plastic market.
Scope of the Europe Bio plastic Market
Europe Bio Plastic Market By Product Type:
- Bio and Fossil-based biogeradables
o Starch Based
o Polylactic Acid (PLA)
o Polyhydroxyalkanoates (PHA)
o Cellulose Derivatives
- Bio-based Non-biodegradable
o Biopolyethylene Terephthalate (PET)
o Bio ployamides
o Bio polytrimethylene Terephthalate
Europe Bio Plastic Market, By Application
- Flexible Packaging
- Rigid Packaging
- Automotive and Assembly Operations
- Electrical and Electronics
Europe Bio Plastic Market, By Country:
- United Kingdom
- Nordic Countries
- Rest of Europe
Key Player analyzed in the Report:
- NatureWorks (Cargill)
- API S.P.A
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